O/T. The Government's handling of Covid

[ramAnag]

Re Vallance, and all other such experts. The problem is that they gain the high level of skills and knowledge by working in a specific industry, and tend to get rewarded by share options, or just buy into the company that employs them.

Then they rally to the nations cause as an expert and become national advisers: maybe for a fee, maybe not. So rather than having their student loan paid off, the whingers out there complain that they have this conflict of interest. What do you want him to do about it?

He has the skills the government want to tap into... should he be made to jettison part of his pension fund?

Being a shareholder doesn't necessarily give any decision making power. That comes with executive directorship. If he is an executive director then both he and the company will be obliged by company law and stock exchange rules to manage the inherent conflict and potential for insider trading.

Being influential in government decision making and awarding of contracts to a company he has a material interest (is it material, probably not) in should be similarly controlled. He's not just going to be able to make such decisions himself - indeed I imagine there are specific controls to prevent it.

His views could influence the decision making, but what do you want a vaccine or just to pick holes?

Hang on, GP...how is it that making any sort of comment or implied criticism of the current situation makes one a ‘whinger’?

You whinge on and on and on about ‘white lives matter’, but when an issue is raised that actually does matter and, perhaps, - please note that word - doesn’t reflect too well on the current situation, we’re automatically ‘whingers’ and ‘moaners’.

It just seems odd to me that the government’s chief scientific adviser has a huge investment in one particular pharma company. It seems to suggest a possible conflict of interest which may impact on the adoption of a particular vaccine.

I don’t know...maybe you do, but perhaps you could then explain rather than jumping, as ever, to the government’s immediate defence.

‘Rally to the nation’s cause’? It may be worth pointing out that PV is, allegedly, one of - if not the - wealthiest civil servant we’ve ever had.

[MadAmster]

I think GP is, maybe even on purpose, missing the point here which is two of the government's advisors, apparently, have financial stakes in one or more of the companies involved.

The big question here, GP, is..... does this show a HUGE conflict of interest.. If the reports are true, I would say a resounding YES.

Same goes with the PPE contract. £400K donation to the Tory Party and you get a £93M PPE contract.

The failed app was from a company in which Goings (and how I wish he was) sister is heavily involved.

There are many more similar cases like the (I know nothing about) ferries man who made a killing with a shell corporation that had no connection with or knowledge of cross channel ferrying.

This all needs investigating by the appropriate authorities because it STINKS.

[Geoff Parkstone]

The donations issue I agree sounds wrong.

The fact that a senior advisor on a health issue has a significant investment in a healthcare company seeking to find a cure to the pandemic is not a surprise, nor to me a concern. Find someone who is at that kind of level who hasnt got an investment in a company in the same industry is more the challenge. It goes with the territory.

And, as I said, having an equity stake and having any influence on that company's policies, strategies etc are too quite different things. Glaxo has a market capitalisation of in excess of 100 billion dollars. His investment is chicken feed

I sometimes think we all sit here bored out of our skulls trying to pick holes in everything that goes on for the sake of it

[mistaram]

[QUOTE=MadAmster;39582637]I think GP is, maybe even on purpose, missing the point here which is two of the government's advisors, apparently, have financial stakes in one or more of the companies involved.

The big question here, GP, is..... does this show a HUGE conflict of interest.. If the reports are true, I would say a resounding YES.

Same goes with the PPE contract. £400K donation to the Tory Party and you get a £93M PPE contract.

The failed app was from a company in which Goings (and how I wish he was) sister is heavily involved.

There are many more similar cases like the (I know nothing about) ferries man who made a killing with a shell corporation that had no connection with or knowledge of cross channel ferrying.

This all needs investigating by the appropriate authorities because it

MA you are exactly right most donations to political parties is done for a reason usually for a rule change that suits them financially or benefit their company . The union's do it to get Labour to improve working conditions is contracts, pay ,conditions ,pensions . Private doners to the Conservatives very much to suit businesses but some dodgy ones in not sure about take Lubov Cheruchin she gave the Torys £450,000 last year despite never living here permanently
Russian arms tycoon Alexander Termerko calls Boris his best friend ,gave 1.2million to the Tory coffers . Hes admitted to being involved in a Eurosceptic plot to oust Teresa May as Tory leader .
Lev Mikheev, Moscow investment banker has donated £212million he also sponsored Tory Stewart's with£ 10,000 for his leadership bid .
I'm sure all these were legitimate and the Russians wanted nothing in return .
Here's me always thinking communism belong to the left

[Geoff Parkstone]

"I don’t know...maybe you do, but perhaps you could then explain rather than jumping, as ever, to the government’s immediate defence."

Jumping to the government defence? That is ironic coming from someone who with every breathe jumps at the governments throat without anything more evidential than something in the (biased) press.

Vallance worked for GSK for 12 years when at the height of his earnings power (his 40s/50s). he headed up their research operations etc, a very senior figure, so its no surprise he had stock in the company. I dont see it at all unusual that this be the case that a senior figure from the industry has a stake in one of the major players. Is it a conflict? It isnt from the corporate point of view as he is not an executive director. It has potential to be if he is in a position to award contracts, but I dont imagine he does. He can advise on the efficacy of a particular treatment perhaps, even that of his former employer, but this is a totally different scenario to that of making political party donations in exchange for lucrative contracts

Its all to easy to criticise things from afar without any real understanding of what goes on - Im not claiming any greater understanding, but chose to have a little faith in existing control systems and "human nature". Maybe that makes me a naive fool, but sooner than that an outright cynic

[ramAnag]

"I don’t know...maybe you do, but perhaps you could then explain rather than jumping, as ever, to the government’s immediate defence."

Jumping to the government defence? That is ironic coming from someone who with every breathe jumps at the governments throat without anything more evidential than something in the (biased) press.

Vallance worked for GSK for 12 years when at the height of his earnings power (his 40s/50s). he headed up their research operations etc, a very senior figure, so its no surprise he had stock in the company. I dont see it at all unusual that this be the case that a senior figure from the industry has a stake in one of the major players. Is it a conflict? It isnt from the corporate point of view as he is not an executive director. It has potential to be if he is in a position to award contracts, but I dont imagine he does. He can advise on the efficacy of a particular treatment perhaps, even that of his former employer, but this is a totally different scenario to that of making political party donations in exchange for lucrative contracts

Its all to easy to criticise things from afar without any real understanding of what goes on - Im not claiming any greater understanding, but chose to have a little faith in existing control systems and "human nature". Maybe that makes me a naive fool, but sooner than that an outright cynic

‘Naive’! I hardly think so. You’re one of the most cynical on here except when it suits your ‘government apologist’ stance.

I’m neither ‘bored’ nor ‘picking holes’...and as you will see from this morning’s original post, I began by drawing attention to something and asking a question as a contribution to a thread entitled ‘The Government’s handling of Covid’.

Following on now from MA’s observations I am increasingly beginning to agree that the ‘government’s handling of Covid’ ‘stinks’.
I didn’t know about Cummings’ sister’s involvement with the failed app...or the £400k donation to the Tory Party...but if those things are true, along with the PM’s literal ‘right hand man’ and chief scientific adviser having a huge personal investment in one particular pharma company which, of course, the Health Secretary knew absolutely nothing about ‘until he read it in the papers’...then I think we are in serious trouble and are being ‘led’ by individuals who are as lacking in integrity and honesty as they are in ability.

P.S. You may wish to consider why we have never seen Ruth May (Chief Nursing Officer) on our screens since she refused to sanction or condone Dominic Cummings’ behaviour. In the words of Mike Gatting, ‘one rule for them...’.

[mistaram]

"I don’t know...maybe you do, but perhaps you could then explain rather than jumping, as ever, to the government’s immediate defence."


Jumping to the government defence? That is ironic coming from someone who with every breathe jumps at the governments throat without anything more evidential than something in the (biased) press.

Vallance worked for GSK for 12 years when at the height of his earnings power (his 40s/50s). he headed up their research operations etc, a very senior figure, so its no surprise he had stock in the company. I dont see it at all unusual that this be the case that a senior figure from the industry has a stake in one of the major players. Is it a conflict? It isnt from the corporate point of view as he is not an executive director. It has potential to be if he is in a position to award contracts, but I dont imagine he does. He can advise on the efficacy of a particular treatment perhaps, even that of his former employer, but this is a totally different scenario to that of making political party donations in exchange for lucrative contracts

Its all to easy to criticise things from afar without any real understanding of what goes on - Im not claiming any greater understanding, but chose to have a little faith in existing control systems and "human nature". Maybe that makes me a naive fool, but sooner than that an outright cynic

Geoff I suspect it makes you very naive . This government are spending money like water on things that have not even been proven to work or even exist . Ordered and paid for 60,000 jabs for a vaccine that hopefully works from BioTech Pfizer, Valnever, 100,000 jabs for Astra Zeneca . Despite the PM saying they might not be a positive vaccine by this time next year . Obviously it takes time and money to develop one but the government have already given these companies and universities over £1billion to develop one . So surely they should not be paying in advance for something that may not work . Good job they don't run businesses , suppose it's easier with tax payers money

[Andy_Faber]

Geoff I suspect it makes you very naive . This government are spending money like water on things that have not even been proven to work or even exist . Ordered and paid for 60,000 jabs for a vaccine that hopefully works from BioTech Pfizer, Valnever, 100,000 jabs for Astra Zeneca . Despite the PM saying they might not be a positive vaccine by this time next year . Obviously it takes time and money to develop one but the government have already given these companies and universities over £1billion to develop one . So surely they should not be paying in advance for something that may not work . Good job they don't run businesses , suppose it's easier with tax payers money

Not arguing the hands in the money pot thing but advanced manufacture of medicines Isn’t unusual, this winters’ flu vaccine Run is alReady complete and may not hit the spot depending on the strain doing the rounds

[mistaram]

Not arguing the hands in the money pot thing but advanced manufacture of medicines Isn’t unusual, this winters’ flu vaccine Run is alReady complete and may not hit the spot depending on the strain doing the rounds

Yes you're right Andy ,it just appears to me that nobody in government are concerned or questioning the cost . I suppose by this time next year we will be paying the American pharmaceutical industry anyway

[Trickytreesreds]

[QUOTE=mistaram;39582659]

I think GP is, maybe even on purpose, missing the point here which is two of the government's advisors, apparently, have financial stakes in one or more of the companies involved.

The big question here, GP, is..... does this show a HUGE conflict of interest.. If the reports are true, I would say a resounding YES.

Same goes with the PPE contract. £400K donation to the Tory Party and you get a £93M PPE contract.

The failed app was from a company in which Goings (and how I wish he was) sister is heavily involved.

There are many more similar cases like the (I know nothing about) ferries man who made a killing with a shell corporation that had no connection with or knowledge of cross channel ferrying.

This all needs investigating by the appropriate authorities because it

MA you are exactly right most donations to political parties is done for a reason usually for a rule change that suits them financially or benefit their company . The union's do it to get Labour to improve working conditions is contracts, pay ,conditions ,pensions . Private doners to the Conservatives very much to suit businesses but some dodgy ones in not sure about take Lubov Cheruchin she gave the Torys £450,000 last year despite never living here permanently
Russian arms tycoon Alexander Termerko calls Boris his best friend ,gave 1.2million to the Tory coffers . Hes admitted to being involved in a Eurosceptic plot to oust Teresa May as Tory leader .
Lev Mikheev, Moscow investment banker has donated £212million he also sponsored Tory Stewart's with£ 10,000 for his leadership bid .
I'm sure all these were legitimate and the Russians wanted nothing in return .
Here's me always thinking communism belong to the left

Communism in Russia? Is that how you describe it now days?